Market Newsdesk

OMER, Israel, July 26, 2021 (GLOBE NEWSWIRE) — Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies and electric vehicle and charging solutions, today announced its board of directors authorized the company to take actions to promote a $2 million buyback program for the company’s ADRs. The company expects to formally approve the buyback in conjunction with the approval of its financial statements for the 6 months ended June 30, 2021, and based on a financial advisor’s opinion to be obtained. The company is required to file a motion seeking a court approval for the buyback program, and the effectiveness of the buyback plan, if formally approved, will be contingent upon such court’s approval.

About Medigus

Medigus is traded on the Nasdaq Capital Market. To learn more about the company’s advanced technology, please visit http://www.medigus.com/investor-relations

Cautionary Note Regarding Forward Looking Statements

This press release may contain statements that are “Forward-Looking Statements,” which are based upon the current estimates, assumptions and expectations of Medigus’ management and its knowledge of the relevant market. The company has tried, where possible, to identify such information and statements by using words such as “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “contemplate” and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words. For example, Medigus uses forward looking statements when describing the contemplated buyback program
as there is no assurance that any of the conditions required by law for the effectiveness of the program will be satisfied and accordingly whether the buyback program will be initiated
and its timing
.
These forward-looking statements represent Medigus’ expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. By their nature, Forward-Looking Statements involve known and unknown risks, uncertainties and other factors which may cause future results of the Medigus’ activity to differ significantly from the content and implications of such statements. Other risk factors affecting Medigus
are
discussed in detail in the Medigus’ filings with the Securities and Exchange Commission. Forward-Looking Statements are pertinent only as of the date on which they are made, and Medigus undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Neither Medigus nor its shareholders, officers and employees, shall be liable for any action and the results of any action taken by any person based on the information contained herein, including without limitation the purchase or sale of Medigus’ securities. Nothing in this press release should be deemed to be medical or other advice of any kind 

Contact (for media only)

Tali Dinar
Chief Financial Officer
+972-8-6466-880
[email protected]

EL SEGUNDO, Calif. and OAKLAND, Calif., July 26, 2021 (GLOBE NEWSWIRE) — Fabletics, the global active lifestyle brand, and ThredUp Inc. (NASDAQ: TDUP), one of the largest online resale platforms for women’s and kids’ apparel, shoes, and accessories, today announced that thredUP will power resale for Fabletics through its Resale-as-a-Service^Ⓡ (RaaS^Ⓡ) platform. The deal marks Fabletics’ entry into the resale ecosystem and provides consumers with an easy and sustainable way to refresh their closets and extend the life of clothes.

“Fabletics’ move into resale is part of a broader strategy to become more environmentally conscious. As a global fashion brand, we do our best to give back to our communities and our precious planet, but we know we must do more to lighten our footprint and stimulate more eco-consciousness,” says Adam Goldenberg, CEO of Fabletics. “This deal with thredUP is a win-win for us and a good step into circularity – our customers now have a hassle-free way to give their unwanted clothing a second life, while gaining perks to refresh their closets, and we at Fabletics are excited to play a more meaningful role in creating a more sustainability-conscious fashion industry.”

“We’re delighted that Fabletics has chosen thredUP’s Resale-as-a-Service^Ⓡ (RaaS^Ⓡ) to power their first resale experience, enabling their members to responsibly clean out and refresh their closets,” said Pooja Sethi, Senior Vice President and General Manager of RaaS^Ⓡ. “Thirty-three million Americans thrifted for the first time in 2020. We believe by helping brands like Fabletics enter the resale ecosystem that we can widen that reach, keep even more clothes in circulation, and further our mission to inspire a new generation of consumers to think secondhand first.”

Fabletics will offer thredUP Clean Out Kits to their members both online and in-store. Members fill their Clean Out Kits with apparel, shoes, and accessories from any brand and ship them to thredUP for free. thredUP pays the seller for items that meet quality standards and can be sold in the form of Fabletics credits, which are automatically added to the seller’s Fabletics account and can be redeemed online or in-store for up to 12 months. Fabletics VIP members also receive 50 VIP reward points. In addition, thredUP sellers can turn earned thredUP credit into Fabletics credit, with a value that is 15% higher than the cash payment option. Fabletics’ resale experience is powered by RaaS^Ⓡ technology, software, and logistics. Read more about RaaS^Ⓡhere.

This deal is part of a broader sustainability push from Fabletics with the goal of reducing their fashion footprint. Last year, Fabletics established carbon neutrality at all of its stores, replaced plastic shipping bags with bags made of recycled material, and launched an eco-conscious capsule for Earth Day made entirely from recycled or upcycled materials. Learn more about how Fabletics is taking steps towards sustainable style here.

About Fabletics

Founded in 2013, Fabletics brings the fashion-house approach into the activewear space by fusing style-centric designs with high-performance technology. Driven by its innovative VIP membership program serving over 2 million loyal members, Fabletics has evolved activewear beyond the gym into every walk of life. The brand’s spirit of inclusivity guides its foundational belief that everyone and every body deserves to look and feel their best. New women’s styles drop every week in sizes XXS-4X and men’s styles drop every month in sizes XS-XXL. See and shop the collections in the US, Canada, most of Europe and at the brand’s 52 state-of-the-art retail stores. To experience the full selection of activewear, accessories, shoes and more, visit fabletics.com. Fabletics is headquartered in El Segundo, California.

Media Contact

Arielle Schechtman
Fabletics
[email protected]

About thredUP

thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world’s largest resale platforms for women’s and kids’ apparel, shoes and accessories. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. In 2018, we extended our platform with thredUP’s Resale-As-A-Service (RaaS^Ⓡ), which facilitates modern resale for a number of the world’s leading brands and retailers. thredUP has processed over 125 million unique secondhand items from 35,000 brands across 100 categories. By extending the life cycle of clothing, thredUP is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.

Media Contact

Christina Schultz
thredUP
[email protected]

Forward Looking Statements

This release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “predict” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Except as required by law, thredUP has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0ed81d5d-6875-422e-a98b-4f527ea1cd6e

NASHVILLE, Tenn., July 26, 2021 (GLOBE NEWSWIRE) — Harrow Health, Inc. (NASDAQ: HROW), an ophthalmic-focused healthcare company, today announced that it will release its financial results for the second quarter and six months ended June 30, 2021, on Tuesday, August 10, 2021, after the market close. The Company will also post its second quarter Letter to Stockholders to the “Investors” section of its website, harrowinc.com. Harrow Health will host a conference call and live webcast at 4:45 p.m. Eastern Time to discuss the results and provide a business update.

Conference Call Details:
Date:	Tuesday, August 10, 2021
Time:	4:45 p.m. Eastern time
Participant Dial-in:	1-833-953-2434 (U.S.) 1-412-317-5763 (International)
Replay Dial-in (Passcode 10157937): (telephonic replay through August 17, 2021)	1-877-344-7529 (U.S.) 1-412-317-0088 (International)
Webcast: (online replay through November 10, 2021)	harrowinc.com

About Harrow Health

Harrow Health, Inc. (NASDAQ: HROW) is an ophthalmic-focused healthcare company. The Company owns and operates ImprimisRx, one of the nation’s leading ophthalmology-focused pharmaceutical businesses, and Visionology, a direct-to-consumer eye care subsidiary focused on chronic eye disease. Harrow Health also holds equity positions in Eton Pharmaceuticals, Surface Ophthalmics and Melt Pharmaceuticals, all of which started as Harrow Health subsidiaries. Harrow Health also owns royalty rights in four clinical-stage drug candidates being developed by Surface Ophthalmics and Melt Pharmaceuticals. For more information about Harrow Health, please visit the Investors section of the corporate website, harrowinc.com.

Contact:

Jamie Webb, Director of Communications and Investor Relations
[email protected]
615-733-4737

 

• Late-breaking PRX012 poster highlights significant ex vivo clearance of both pyroglutamate-modified and -unmodified Aβ plaque from AD brain at concentrations expected to be reached in CNS with subcutaneous administration
• Poster presentation demonstrates dual Aβ-tau vaccines simultaneously generate antibodies that neutralize and clear pathogenic Aβ and block pathogenic tau interaction

DUBLIN, Ireland, July 26, 2021 (GLOBE NEWSWIRE) — Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical company with a robust pipeline of novel investigational therapeutics built on protein dysregulation expertise, today announced that it presented new data at the Alzheimer’s Association International Conference^® 2021 (AAIC^®) from two of its Alzheimer’s disease (AD) programs. The presentations highlight new data for PRX012, Prothena’s next-generation anti-amyloid beta (Aβ) antibody being developed for subcutaneous administration for patients with AD, as well as data on the company’s dual Aβ-tau vaccine program being developed for the prevention and treatment of AD. These two programs and Prothena’s anti-tau antibody partnered with Bristol Myers Squibb, PRX005, are part of Prothena’s potentially best-in-class AD portfolio.

“Our presentations at AAIC reflect our commitment to leverage our protein dysregulation expertise to advance a diverse range of new medicines that are designed to offer enhanced efficacy, safety and access for patients with Alzheimer’s disease worldwide,” stated Hideki Garren, MD, PhD, Chief Medical Officer. “The data show that PRX012, our high-potency, next-generation anti-Aβ antibody, can clear pyroglutamate-modified and -unmodified Aβ plaque in brain tissue at concentrations that can be reached in the CNS with subcutaneous administration on a convenient treatment schedule. This has the potential to offer greater patient accessibility and compliance relative to approved therapies and treatments currently under development. We also presented preclinical data on our AD vaccine program, which simultaneously targets Aβ and tau, further reinforcing our commitment to offer multiple best-in-class therapeutic options for patients affected by and at risk of developing this devastating disease.”

PRX012: Next-generation, high-potency anti-Aβ antibody for Alzheimer’s disease with best-in-class potential

Preclinical PRX012 findings were featured in a late-breaking poster presentation titled: PRX012 Induces Microglia-Mediated Clearance of Pyroglutamate-Modified and -Unmodified Aβ in Alzheimer’s Disease Brain Tissue (Poster # 57773). PRX012 is Prothena’s next-generation monoclonal antibody, which binds the N-terminus of Aβ, a key component of the plaque associated with AD. Preclinical data have shown PRX012 binds to A with high affinity and avidity, consistent with the potential for more effective Aβ plaque clearance at lower concentrations than other anti-Aβ therapies. PRX012 is also designed to be administered by subcutaneous injection to provide a more convenient method and schedule of administration to facilitate patient access.

Results presented at AAIC demonstrated that PRX012 induced significant microglia-mediated clearance of both pyroglutamate-modified and -unmodified Aß plaque in brain tissue of late-stage AD patients at concentrations predicted to be clinically relevant. Both forms have been described as components of senile plaque and vascular Aβ in AD. PRX012 was observed to bind with very high affinity/avidity to full-length Aβ. PRX012 also showed higher potency and greater biologic activity than aducanumab. PRX012 Investigational New Drug Application (IND) is expected to be filed in 1Q 2022.

Dual Aβ-tau vaccine
for the treatment and prevention of
Alzheimer’s disease

Preclinical data on Prothena’s dual Aβ-tau vaccine were described in a poster presentation titled: Development of a Dual Aβ-Tau Vaccine for the Prevention of Alzheimer’s Disease (Poster # 52980). The findings, which included results in cynomolgus monkeys and mice, support the continued development of this multi-epitope vaccine for the prevention and treatment of AD. The dual vaccine is a single agent designed to prevent the two key processes associated with AD: the formation of Aβ plaque and the development of intraneuronal tau tangles.

The poster described results from Prothena’s dual Aβ-tau vaccine constructs, which generated appropriate antibody quantities with the ability to promote both phagocytosis of Aβ plaque and blockade of tau binding to a heparin-sulfate analog, which is a surrogate for neuronal uptake of tau. All three constructs generated a balanced immune response to both proteins, a common challenge with multi-epitope vaccines, and induced robust antibody titers to Aβ and tau in multiple animal experiments. The resultant titers strongly reacted with Aβ and tau pathology in human AD brain tissue. Additionally, cerebrospinal fluid (CSF) concentrations of tau and Aβ antibodies were within the expected range and similar to typical ranges achieved following administration of monoclonal antibodies (0.1-0.2% CSF/plasma).

About Alzheimer’s Disease

Alzheimer’s disease is the most common form of dementia causing increasingly serious symptoms, including confusion, disorientation, mood and behavioral changes, difficulty speaking, swallowing, and walking. Approximately 6.2 million Americans aged 65 and older are currently estimated to be living with Alzheimer’s disease, making it the most common neurodegenerative disorder. There is an urgent need for therapies that slow the progression and ultimately prevent Alzheimer’s disease to address this global healthcare crisis. Prothena’s Alzheimer’s disease portfolio spans next generation antibody immunotherapy, small molecule, and vaccine approaches, geared toward building upon first generation treatments to advance the treatment paradigm.

About Prothena

Prothena Corporation plc is a late-stage clinical company with a robust pipeline of novel investigational therapeutics built on protein dysregulation expertise with the potential to change the course of devastating rare peripheral amyloid and neurodegenerative diseases. Fueled by its deep scientific expertise built over decades of research, Prothena is advancing a pipeline of therapeutic candidates for several indications and novel targets for which its ability to integrate scientific insights around neurological dysfunction and the biology of misfolded proteins can be leveraged. Prothena’s pipeline includes both wholly-owned and partnered programs being developed for the potential treatment of diseases including AL amyloidosis, ATTR amyloidosis, Alzheimer’s disease, Parkinson’s disease and a number of other neurodegenerative diseases. For more information, please visit the Company’s website at www.prothena.com and follow the Company on Twitter @ProthenaCorp.

Forward-looking Statements

This press release contains forward-looking statements. These statements relate to, among other things, the treatment potentials, designs, and proposed mechanisms of action of PRX012, our dual Aβ-tau vaccine and PRX005; and plans for future clinical studies of PRX012. These statements are based on estimates, projections, and assumptions that may prove not to be accurate, and actual results could differ materially from those anticipated due to known and unknown risks, uncertainties, and other factors, including but not limited to those described in the “Risk Factors” section of our Quarterly Report on form 10-Q filed with the Securities and Exchange Commission (SEC) on May 11, 2021, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the SEC. We undertake no obligation to update publicly any forward-looking statements contained in this press release as a result of new information, future events or changes in our expectations.

Contact:

Jennifer Zibuda, Director, Investor Relations & Communications
650-837-8535, [email protected]

SAN FRANCISCO, July 26, 2021 (GLOBE NEWSWIRE) — Opendoor Technologies Inc. (Nasdaq: OPEN), (“Opendoor” or “the Company”), a leading digital platform for residential real estate, today announced the results of the completed redemption of all of its outstanding warrants (the “Public Warrants”) to purchase shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), that were issued under the Warrant Agreement, dated April 27, 2020, by and between the Company and Continental Stock Transfer & Trust Company (“CST”), as warrant agent, as amended by the First Amendment to the Warrant Agreement, dated March 22, 2021, by and among the Company, CST and American Stock Transfer & Trust Company, as warrant agent (as amended, the “Warrant Agreement”), as part of the units sold in the Company’s initial public offering (the “IPO”) that remained outstanding at 5:00 p.m. New York City time on July 9, 2021 (the “Redemption Date”) for a redemption price of $0.10 per Public Warrant.

On June 9, 2021, the Company issued a press release stating that, pursuant to the terms of the Warrant Agreement, it would redeem all of the outstanding Public Warrants at a redemption price of $0.10 per Public Warrant. The redemption was triggered because the last sales price (the “Reference Value”) of the Common Stock was at least $10.00 per share on each of twenty trading days within a thirty-day trading period ending on the third trading day prior to June 9, 2021. Since the Reference Value was less than $18.00 per share, the outstanding warrants to purchase Common Stock that were issued under the Warrant Agreement in a private placement simultaneously with the IPO (the “Private Warrants” and, together with the Public Warrants, the “Warrants”) were also concurrently called for redemption on the same terms as the outstanding Public Warrants.

Of the 13,799,947 Public Warrants that were outstanding as of the time of the business combination of Opendoor with Social Capital Hedosophia Holdings Corp. II on December 18, 2020 (the “Business Combination”), 874,739 were exercised for cash at an exercise price of $11.50 per share of Common Stock and 12,521,776 were exercised on a cashless basis in exchange for an aggregate of 4,452,659 shares of Common Stock, in each case in accordance with the terms of the Warrant Agreement, representing approximately 97% of the Public Warrants. In addition, of the 6,133,333 Private Warrants that were outstanding as of the date of the Business Combination, 1,073,333 were exercised for cash at an exercise price of $11.50 per share of Common Stock and 5,060,000 were exercised on a cashless basis in exchange for an aggregate of 1,799,336 shares of Common Stock, in each case in accordance with the terms of the Warrant Agreement, representing 100% of the Private Warrants. Total cash proceeds generated from exercises of the Warrants were $22,402,828. As of July 23, 2021, the Company had no Warrants and 604,213,754 shares of Common Stock outstanding.

In connection with the redemption, the Public Warrants stopped trading on the Nasdaq Global Select Market and were delisted, with the trading halt announced after close of market on July 9, 2021. The redemption had no effect on the trading of the Common Stock, which continues to trade on the Nasdaq Global Select Market under the symbol “OPEN.”

About
Opendoor

Opendoor’s mission is to empower everyone with the freedom to move. Since 2014, Opendoor has provided people across the U.S. with a radically simple way to buy, sell or trade-in a home online. Opendoor currently operates in a growing number of markets across the U.S.

Contact
Information

Investors:
Elise Wang
Opendoor
[email protected]

Media:
Sheila Tran / Charles Stewart
Opendoor
[email protected] 

SALEM, Ind., July 26, 2021 (GLOBE NEWSWIRE) — Mid-Southern Bancorp, Inc. (the “Company”) (NASDAQ: MSVB), the holding company for Mid-Southern Savings Bank, FSB (the “Bank”), reported net income for the second quarter ended June 30, 2021 of $397,000 or $0.13 per diluted share compared to $342,000 or $0.10 per diluted share for the same period in 2020. For the six months ended June 30, 2021, the Company reported net income of $775,000 or $0.26 per diluted share compared to $727,000 or $0.22 per diluted share for the same period in 2020.

In light of the events surrounding the COVID-19 pandemic, the Company is continually assessing the effects of the pandemic to its employees, customers and communities. In March 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted. The CARES Act contains many provisions related to banking, lending, mortgage forbearance and taxation, and the Company supported its customers through the SBA Paycheck Protection Program (“PPP”), loan modifications and deferrals and fee waivers on early withdrawal of certificates of deposit due to hardship. The deadline for PPP loan applications for the first round was extended to August 8, 2020, and during this round in 2020, the Bank funded 29 PPP loans totaling $474,000. As of June 30, 2021, all loans received full forgiveness from the SBA.

In late December 2020, the Emergency Coronavirus Relief Act of 2020 (the “Relief Act”) was enacted. The Relief Act extended certain provisions of the CARES Act, and allotted $284 billion to the SBA for a second round of PPP loans. The deadline for PPP loan applications for the second round was extended from March 31, 2021 to May 31, 2021. For the six months ended June 30, 2021, the Bank has funded 43 PPP loans totaling $815,000 as part of this second round, and 40 loans with a principal balance of $771,000 remain outstanding as of June 30, 2021.   As of June 30, 2021, three loans with a principal balance of $44,000 had received full forgiveness from the SBA.

While the ultimate impact of the crisis is difficult to predict, management believes the Company is well-capitalized and has the financial stability to continue to responsibly serve its customers and communities during this unprecedented time.

Income Statement Review

Net interest income after provision for loan losses increased $161,000, or 10.4%, for the quarter ended June 30, 2021 to $1.7 million as compared to the quarter ended June 30, 2020. Total interest income increased $64,000, or 3.5%, when comparing the two periods, due to an increase in the average balance of interest-earning assets partially offset by a decrease in the yield earned on interest-earning assets. The average balance of interest-earning assets increased to $237.5 million for the quarter ended June 30, 2021 from $205.0 million for the quarter ended June 30, 2020, due primarily to increases in investment securities, partially offset by decreases in loans receivable and interest-bearing deposits with banks. The average tax equivalent yield on interest-earning assets decreased to 3.33% for the quarter ended June 30, 2021 from 3.67% for the quarter ended June 30, 2020, due primarily to a decrease in market interest rates, driven by decreases in the targeted federal funds rate in response to the COVID-19 pandemic. Total interest expense decreased $82,000, or 32.9%, when comparing the two periods due to a decrease in the average cost of interest-bearing liabilities, partially offset by an increase in the average balance of interest-bearing liabilities. The average cost of interest-bearing liabilities decreased to 0.39% for the quarter ended June 30, 2021 from 0.70% for the same period in 2020. The average balance of interest-bearing liabilities increased to $171.3 million for the quarter ended June 30, 2021 from $142.0 million for the same period in 2020, due primarily to an increase in the number and balance of savings and interest-bearing demand deposit accounts, partially offset by a decrease in time deposits. As a result of the changes in interest-earning assets and interest-bearing liabilities, the interest rate spread decreased to 2.94% from 2.97% and the net interest margin decreased to 3.05% from 3.19% for the quarters ended June 30, 2021 and 2020, respectively.

Net interest income after provision for loan losses increased $243,000, or 7.7%, for the six months ended June 30, 2021 to $3.4 million as compared to $3.2 million for the six-month period ended June 30, 2020. Total interest income decreased $4,000, or 0.1%, when comparing the two periods, due to a decrease in the yield earned on interest-earning assets partially offset by an increase in the average balance of interest-earning assets. The average tax equivalent yield on interest-earning assets decreased to 3.38% for the six months ended June 30, 2021 from 3.83% for the six months ended June 30, 2020, due primarily to a decrease in market interest rates, driven by decreases in the targeted federal funds rate in response to the COVID-19 pandemic. The average balance of interest-earning assets increased to $233.2 million for the six months ended June 30, 2021 from $202.7 million for the six months ended June 30, 2020, due primarily to increases in investment securities, partially offset by decreases in loans receivable and interest-bearing deposits with banks. Total interest expense decreased $175,000, or 34.2%, when comparing the two periods due to a decrease in the average cost of interest-bearing liabilities, partially offset by an increase in the average balance of interest-bearing liabilities. The average cost of interest-bearing liabilities decreased to 0.40% for the six months ended June 30, 2021 from 0.73% for the same period in 2020. The average balance of interest-bearing liabilities increased to $167.2 million for the six months ended June 30, 2021 from $140.5 million for the same period in 2020, due primarily to an increase in the number and balance of savings and interest-bearing demand deposit accounts, partially offset by a decrease in time deposits. As a result of the changes in interest-earning assets and interest-bearing liabilities, the interest rate spread decreased to 2.98% from 3.10% and the net interest margin decreased to 3.09% from 3.32% for the six-month periods ended June 30, 2021 and 2020, respectively.

Noninterest income increased $42,000, or 14.8%, for the quarter ended June 30, 2021 as compared to the same period in 2020, due primarily to increases of $75,000, $37,000, and $34,000 in brokered loan fees, deposit account service charges and ATM and debit card fee income, respectively, partially offset by a reduction of $104,000 in net gain on sales of securities available for sale. Proceeds from sales of securities available for sale were $4.5 million for the quarter ended June 30, 2020. No available for sale securities have been sold during the quarter ended June 30, 2021.

Noninterest income increased $144,000, or 31.6%, for the six months ended June 30, 2021 as compared to the same period in 2020, due primarily to increases of $136,000, $72,000, and $38,000 in brokered loan fees, ATM and debit card fee income and deposit account service charges, respectively, partially offset by a reduction of $104,000 in net gain on sales of securities available for sale. Proceeds from sales of securities available for sale were $4.5 million for the six months ended June 30, 2020. No available for sale securities have been sold during the six months ended June 30, 2021.

Noninterest expense increased $175,000, or 12.0%, for the quarter ended June 30, 2021 as compared to the same period in 2020. The increase was due primarily to increases in compensation and benefits of $110,000, data processing fees of $32,000, occupancy and equipment expenses of $25,000, deposit insurance premiums of $15,000 and other expenses of $27,000, partially offset by decreases in professional fees of $35,000.

Noninterest expense increased $401,000, or 14.3%, for the six months ended June 30, 2021 as compared to the same period in 2020. The increase was due primarily to increases in compensation and benefits of $245,000, occupancy and equipment expenses of $50,000, deposit insurance premiums of $30,000, directors’ compensation expense of $20,000, data processing fees of $17,000 and other expenses of $44,000 partially offset by decreases in professional fees of $17,000.

The Company recorded an income tax expense of $6,000 for the quarter ended June 30, 2021, compared to an expense of $33,000 for the same period in 2020. Income tax expense for the six months ended June 30, 2020 was $23,000 compared to $85,000 for the same period in 2020 resulting from a reduction in our effective tax rate to 2.9% for 2021 compared to 10.5% for 2020. The decrease in the effective tax rate is due largely to increased tax-exempt investment income proportionate to overall pre-tax income.

Balance Sheet Review

Total assets as of June 30, 2021 were $249.2 million compared to $235.4 million at December 31, 2020. Increases in cash and cash equivalents and investment securities of $8.9 million and $7.3 million, respectively were partially offset by a $2.4 million decrease in net loans. Investment securities increased due primarily to $13.0 million in purchases of available for sale investment securities, partially offset by $4.8 million in scheduled principal payments and maturities of mortgage-backed and tax-exempt securities. The decrease in net loans was due primarily to decreases of $2.1 million in commercial real estate loans and $2.4 million in one-to-four family residential loans, partially offset by increases in commercial business loans and commercial real estate construction loans of $2.3 million and $1.1 million, respectively. Total liabilities, comprised mostly of deposits, increased $13.7 million to $200.0 million as of June 30, 2021. The increase was due primarily to a $15.3 million increase in interest-bearing deposits, partially offset by a decrease of $1.0 million in borrowings from the Federal Home Loan Bank of Indianapolis.

Credit Quality

Non-performing loans decreased to $912,000 at June 30, 2021 compared to $1.3 million at December 31, 2020, or 0.8% and 1.1% of total loans, respectively. At June 30, 2021, $750,000 or 82.3% of non-performing loans were current on their loan payments. At June 30, 2021, non-performing troubled debt restructured loans totaled $175,000. There was no foreclosed real estate owned at either June 30, 2021 or December 31, 2020.

Based on management’s analysis of the allowance for loan losses, the Company did not record a provision for loan losses for the quarter ended June 30, 2021, compared to a $15,000 provision for loan losses for the same period in 2020. The provision for the current quarter reflects expected credit losses based upon the conditions that existed as of June 30, 2021. The Company recognized net recoveries of $22,000 for the quarter ended June 30, 2021 compared to net recoveries of $1,000 for the same period in 2020.

The Company did not record a provision for loan losses for the six months ended June 30, 2021, compared to a $72,000 provision for loan losses for the same period in 2020. The Company recognized net recoveries of $23,000 for the six months ended June 30, 2021 compared to net charge-offs of $14,000 for the same period in 2020. The allowance for loan losses totaled $1.6 million, representing 1.4% of total loans at both June 30, 2021 and December 31, 2020. The allowance for loan losses represented 176.8% of non-performing loans at June 30, 2021, compared to 126.5% at December 31, 2020.

Capital

On May 23, 2018, the President signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act passed by Congress (the “Act”). The Act contains a number of provisions extending regulatory relief to banks and savings institutions and their holding companies. Effective January 1, 2020, a bank or savings institution electing to use the Community Bank Leverage Ratio (“CBLR”) will generally be considered well-capitalized and to have met the risk-based and leverage capital requirements of the capital regulations if it has a leverage ratio greater than 9.0% (adjusted to 8.0% effective April 1, 2020 and 8.5% effective January 1, 2021). On October 9, 2020, the Office of the Comptroller of the Currency along with the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, published a final rule, effective November 9, 2020, implementing a temporary change to the CBLR framework pursuant to the CARES Act, providing a graduated increase to the 9.0% requirement as established under the final rule published in 2019. To be eligible to elect to use the CBLR, the bank or savings institution also must have total consolidated assets of less than $10 billion, off-balance sheet exposures of 25.0% or less of its total consolidated assets, and trading assets and trading liabilities of 5.0% or less of its total consolidated assets, all as of the end of the most recent quarter. The Bank elected to use the CBLR effective January 1, 2020.

At June 30, 2021, the Bank was considered well-capitalized under applicable federal regulatory capital guidelines with a CBLR of 16.3%.

The Company’s stockholders’ equity increased to $49.1 million at June 30, 2021, from $49.0 million at December 31, 2020. The increase was due primarily to net income of $775,000, partially offset by a decrease in the accumulated other comprehensive income, net of tax, of $580,000. At June 30, 2021, a total of 63,750 shares remain authorized for future purchases under the current stock repurchase plan.

About Mid-Southern Bancorp, Inc.

Mid-Southern Savings Bank, FSB is a federally chartered savings bank headquartered in Salem, Indiana, approximately 40 miles northwest of Louisville, Kentucky. The Bank conducts business from its main office in Salem and through its branch offices located in Mitchell and Orleans, Indiana and loan production offices located in New Albany, Indiana and Louisville, Kentucky.

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect,” “will,” “may,” “continue,” or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include the effect of the COVID-19 pandemic, including on the Company’s credit quality and business operations, as well as its impact on general economic and financial market conditions and other uncertainties resulting from the COVID-19 pandemic, such as the extent and duration of the impact on public health, the U.S. and global economies, and consumer and corporate customers, including economic activity, employment levels and market liquidity; increased competitive pressures; changes in the interest rate environment; general economic conditions or conditions within the securities markets; and legislative and regulatory changes affecting financial institutions, including regulatory compliance costs and capital requirements that could adversely affect the business in which the Company and the Bank are engaged; and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission that are available on our website at mid-southern.com and on the SEC’s website at www.sec.gov.

The factors listed above could materially affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.

Except as required by applicable law, the Company does not undertake and specifically declines any obligation to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. When considering forward-looking statements, you should keep in mind these risks and uncertainties. You should not place undue reliance on any forward-looking statement, which speaks only as of the date made.

MID-SOUTHERN BANCORP, INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
(Dollars in thousands, except per share information)

		Three Months Ended						Six Months Ended
		June 30,						June 30,
OPERATING DATA		2021			2020			2021			2020
Total interest income		$	1,875		$	1,811		$	3,740		$	3,744
Total interest expense			167			249			337			512
Net interest income			1,708			1,562			3,403			3,232
Provision for loan losses			—			15			—			72
Net interest income after provision for loan losses			1,708			1,547			3,403			3,160
Total non-interest income			325			283			599			455
Total non-interest expense			1,630			1,455			3,204			2,803
Income before income taxes			403			375			798			812
Income tax expense			6			33			23			85
Net income		$	397		$	342		$	775		$	727
Net income per share attributable to common shareholders:
Basic		$	0.13		$	0.10		$	0.26		$	0.22
Diluted		$	0.13		$	0.10		$	0.26		$	0.22
Weighted average common shares outstanding:
Basic			2,967,050			3,262,240			2,966,416			3,303,847
Diluted			2,976,138			3,263,578			2,974,648			3,305,065

		June 30,			December 31,
BALANCE SHEET INFORMATION		2021			2020
Cash and cash equivalents		$	18,526		$	9,661
Investment securities			111,750			104,487
Loans, net			110,903			113,259
Interest-earning assets			241,192			227,996
Total assets			249,152			235,363
Deposits			189,065			174,113
Borrowings			10,000			11,000
Stockholders’ equity			49,116			49,004
Book value per share (1)			15.50			15.44
Tangible book value per share (2)			15.50			15.44
Non-performing assets:
Nonaccrual loans			912			1,256
Accruing loans past due 90 days or more			—			—
Foreclosed real estate			—			—
Troubled debt restructurings on accrual status			822			892

OTHER FINANCIAL DATA

		Three Months Ended						Six Months Ended
		June 30,						June 30,
Performance ratios:		2021			2020			2021			2020
Cash dividends per share		$	0.03		$	0.02		$	0.06		$	0.04
Return on average assets (annualized)			0.64	%		0.64	%		0.64	%		0.69	%
Return on average stockholders’ equity (annualized)			3.26	%		2.71	%		3.17	%		2.86	%
Net interest margin			3.05	%		3.19	%		3.09	%		3.32	%
Interest rate spread			2.94	%		2.97	%		2.98	%		3.10	%
Efficiency ratio			80.2	%		78.9	%		80.1	%		76.0	%
Average interest-earning assets to average interest-bearing liabilities			138.6	%		144.3	%		139.5	%		144.3	%
Average stockholders’ equity to average assets			19.7	%		23.6	%		20.1	%		24.1	%
Stockholders’ equity to total assets at end of period									19.7	%		23.4	%

		June 30,		December 31,
Capital ratios: (3)		2021		2020
Community Bank Leverage Ratio		16.3	%	17.6	%

		June 30,		December 31,
Asset quality ratios:		2021		2020
Allowance for loan losses as a percent of total loans		1.4	%	1.4	%
Allowance for loan losses as percent of non-performing loans		176.8	%	126.5	%
Net charge-offs to average outstanding loans during the period		0.0	%	0.0	%
Non-performing loans as a percent of total loans		0.8	%	1.1	%
Non-performing assets as a percent of total assets		0.4	%	0.5	%

________________________
(1) – We calculate book value per share as total stockholders’ equity at the end of the relevant period divided by the outstanding number of our common shares at the end of each period.

(2) – Tangible book value per share is a non-GAAP financial measure. We calculate tangible book value per share as total stockholders’ equity at the end of the relevant period, less goodwill and other intangible assets, divided by the outstanding number of our common shares at the end of each period. The most directly comparable GAAP financial measure is book value per share. We had no goodwill or other intangible assets as of any of the dates indicated. As a result, tangible book value per share is the same as book value per share as of each of the dates indicated. We provide the tangible book value per share in addition to those defined by banking regulators because of its widespread use by investors as a means to evaluate capital adequacy.

(3) – Effective January 1, 2020, the Bank elected to use the CBLR, as provided by the Act. The Act contains a number of provisions extending regulatory relief to banks and savings institutions and their holding companies. A bank or savings institution that elects to use the CBLR will generally be considered well-capitalized and to have met the risk-based and leverage capital requirements of the capital regulations if it has a leverage ratio greater than 9.0% (adjusted to 8.0% effective April 1, 2020 and 8.5% effective January 1, 2021).

Contact:


Alexander G. Babey, President and Chief Executive Officer

Robert W. DeRossett, Chief Financial Officer

Mid-Southern Bancorp, Inc.

812-883-2639

FALLS CHURCH, Va., July 26, 2021 (GLOBE NEWSWIRE) — Northrop Grumman Corporation (NYSE: NOC) will participate in the Jefferies Industrials Conference on Wednesday, August 4. Dave Keffer, corporate vice president and chief financial officer, will present beginning at 9:00 a.m. Eastern time. The presentation will be webcast live at http://investor.northropgrumman.com.

Northrop Grumman solves the toughest problems in space, aeronautics, defense and cyberspace to meet the ever evolving needs of our customers worldwide. Our 90,000 employees define possible every day using science, technology and engineering to create and deliver advanced systems, products and services.

Note: Statements to be made at the conference, including in the presentation and in any accompanying materials, contain or may contain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “anticipate,” “intend,” “may,” “could,” “should,” “plan,” “project,” “forecast,” “believe,” “estimate,” “guidance,” “outlook,” “trends,” “goals” and similar expressions generally identify these forward-looking statements. These forward-looking statements speak only as of the date when made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements after the date of the conference, except as required by applicable law. Forward-looking statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. A discussion of these risks and uncertainties is contained in the Company’s filings with the Securities and Exchange Commission.

Contact:	Vic Beck (Media)
	703-280-4456 (office)
	[email protected]
	Todd Ernst (Investors)
	703-280-4535 (office)
	[email protected]

ALHAMBRA, CA, July 26, 2021 (GLOBE NEWSWIRE) — EMCORE Corporation (Nasdaq: EMKR), a leading provider of advanced mixed-signal products that serve the aerospace & defense and broadband communications markets, will announce its fiscal 2021 third quarter results for the period ended June 30, 2021 on Wednesday, August 4, 2021 after the market close.

Conference Call Information

The Company will host a conference call to discuss these results at 8:00 a.m. ET (5:00 a.m. PT) on Thursday, August 5, 2021. President & Chief Executive Officer, Jeff Rittichier and Chief Financial Officer, Tom Minichiello will provide an overview of the results, discuss current business conditions, and conduct a question and answer session. The call will be available, live, to interested parties by dialing 800-353-6461. For international callers, please dial +1 334-323-0501. The conference passcode number is 9771183. The call will be webcast live via the Company’s website at https://www.emcore.com. Please go to the site beforehand to register and download any necessary software. A webcast will be available on the Company’s website for replay beginning Thursday, August 5, 2021 following the conclusion of the call.

About EMCORE

EMCORE Corporation is a leading provider of advanced mixed-signal products that serve the aerospace & defense and broadband communications markets. Our best-in-class components and systems support a broad array of applications including navigation and inertial sensing, defense optoelectronics, broadband transport, 5G wireless infrastructure, optical sensing, and cloud data centers. We leverage industry-leading Quartz MEMS, Indium Phosphide, and Lithium Niobate chip-level technology to deliver state-of-the-art component and system-level products across our end-market applications. EMCORE has vertically-integrated manufacturing capability at its wafer fabrication facility in Alhambra, CA, and Quartz MEMS manufacturing facility in Concord, CA. Our manufacturing facilities maintain ISO 9001 quality management certification, and we are AS9100 aerospace quality certified at our facility in Concord. For further information about EMCORE, please visit https://www.emcore.com.

Investor Contact:

EMCORE Corporation

Tom Minichiello
Chief Financial Officer
(626) 293-3400
[email protected]

PR N°C3021C

STMicroelectronics’ Bouskoura plant to
use 50% of renewable energy sources by 2022

A project that advances STMicroelectronics’ commitment to sourcing renewable energy and becoming carbon-neutral by 2027.

Geneva – July 26, 2021 – As part of its action plan to achieve carbon-neutrality by 2027, STMicroelectronics (NYSE:STM), a global leader serving customers across the spectrum of electronics applications, announced today that its Bouskoura site in Morocco will procure 50% of its energy from renewable sources by 2022 compared to 1 % in 2020.

STMicroelectronics has been present in Bouskoura for over 20 years with a back-end plant which employs 2,800 people. The site has developed several programs over the last few years to reduce its indirect greenhouse gas emissions (Scope 2) and augment the use of renewable energy sources:

• The purchase of electrical power generated by wind farm: the electricity of 12 wind turbines produced by InnoVent in North Morocco will be fed into Morocco’s national power grid and then, purchased by ST. Located in Oualidia – El Jadida in northwest Morocco, near the Atlantic Ocean, the 10-hectare wind farm built by InnoVent, a company specialized in the development and operation of wind and solar farms in France and Africa, started producing electricity on March 2021 and will reach its full capacity of 36 MW at the end of the year. With annual output expected to reach more than 80 gigawatt-hours of green energy, the wind farm should contribute to reduce the Bouskoura facility’s CO₂ emissions by about 60,000 metric tons per year – or the amount of carbon captured by planting 1,100,000 trees.

• Solar power generation. In December 2019, ST Bouskoura set up a solar carport (250 parking places), with 2,400 solar panels providing peak power of 672 kilowatts (kWp) and spanning some 4,000 square meters. With annual production of more than 1 gigawatt-hour of photovoltaic energy, this program reduces the site’s annual CO₂ emissions by nearly 740 metric tons. The solar energy from this carport provides some of Bouskoura’s own power needs, to complement the power supplied by the wind farm.

• Replacement of conventional light bulbs by LED lighting for the entire site. Kicked off in September 2020, this program will reduce the site’s annual power consumption by 1.3 GWh.

“Our electrical power purchases from the Oualidia wind farm complement our own generation of electricity by the solar carport, installed over a year ago,” noted Fabrice Gomez, General Manager of STMicroelectronics Bouskoura. “We are proud to call on renewable and local energy sources to help the Company reach its goal of carbon neutrality, while also supporting the Moroccan government’s commitment to the energy transition.”

Rajita D’Souza, President, Human Resources and Corporate Social Responsibility at STMicroelectronics, added, “STMicroelectronics has committed to procuring 100% of its energy needs from renewable sources by 2027, thanks to a combination of on-site solar power installations and agreements to purchase green-certified renewable energies. The use of electricity from wind power at our Bouskoura plant in Morocco marks a major step forward for our Group and reflects a trend that will be strengthened over time and expanded to include several of our sites.”

About STMicroelectronics

At ST, we are 46,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with more than 100,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and 5G technology. Further information can be found at www.st.com.

For further information, please contact:
INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel : +41.22.929.58.12
[email protected]

MEDIA RELATIONS:
Alexis Breton        
Corporate External Communications
Tel: + 33.6.59.16.79.08
[email protected]

Attachment

• C3021C – Bouskoura sustainability PR_FINAL FOR PUBLICATION

ST. LOUIS, July 26, 2021 (GLOBE NEWSWIRE) — Stereotaxis (NYSE: STXS), the global leader in innovative robotic technologies for the treatment of cardiac arrhythmias, today announced the appointment of Myriam J. Curet, M.D., to its Board of Directors.

Dr. Curet currently serves as Executive Vice President and Chief Medical Officer for Intuitive Surgical, the global leader and pioneer of robotic surgery. Dr. Curet joined Intuitive Surgical in 2005 and has since led the development of clinical evidence, physician education, and reimbursement and regulatory activities that have been instrumental to Intuitive Surgical’s growth across multiple clinical specialties. For more than 20 years, Dr. Curet has also served as a Clinical Professor of Surgery at Stanford University School of Medicine, with a part-time clinical appointment at the Palo Alto Veteran’s Administration Medical Center. Dr. Curet received her M.D. from Harvard Medical School and completed her general surgery residency at the University of Chicago.

“Stereotaxis reminds me in many ways of Intuitive Surgical in our early years,” said Dr. Curet. “I’m impressed by Stereotaxis’ technology, clinical value and strategy to positively transform endovascular medicine with robotics. I look forward to providing strategic guidance and contributing to the effort to build a highly successful and impactful company.”

“We are delighted to have Myriam join the Stereotaxis Board of Directors,” said David Fischel, Chairman and CEO. “We look forward to benefiting from her highly relevant experience and significant expertise as we advance robotics across endovascular interventions.”

About Stereotaxis


Stereotaxis is the global leader in innovative robotic technologies designed to enhance the treatment of arrhythmias and perform endovascular procedures. Its mission is the discovery, development and delivery of robotic systems, instruments, and information solutions for the interventional laboratory. These innovations help physicians provide unsurpassed patient care with robotic precision and safety, improved lab efficiency and productivity, and enhanced integration of procedural information. The core components of Stereotaxis’ systems have received regulatory clearance in the United States, European Union, Japan, Canada, China, and elsewhere. For more information, please visit www.stereotaxis.com.

This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company’s ability to continue to manage expenses and cash burn rate at sustainable levels, continued acceptance of the Company’s products in the marketplace, the effect of global economic conditions on the ability and willingness of customers to purchase its systems and the timing of such purchases, competitive factors, changes resulting from healthcare policy in the United States, including changes in government reimbursement of procedures, dependence upon third-party vendors, timing of regulatory approvals, the impact of the recent coronavirus (COVID-19) pandemic and our response to it, and other risks discussed in the Company’s periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that the Company will recognize revenue related to its purchase orders and other commitments in any particular period or at all because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company’s control. In addition, these orders and commitments may be revised, modified, delayed or canceled, either by their express terms, as a result of negotiations, or by overall project changes or delays.

Company Contacts:

David L. Fischel
Chairman and Chief Executive Officer

Kimberly Peery
Chief Financial Officer

314-678-6100
[email protected]